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Auto show season is shopping season. With the North American International Auto Show opening in Detroit next week, and auto shows in Chicago and New York coming up, there will be plenty of tire-kicking going on.

Image by Getty Images via @daylife

It's been said that about a quarter of the people who visit big car shows end up buying a car within the next 12 months. With the average car loan running about five years, according to Edmunds.com, that means these shoppers were last in the market in 2007. Compared with the way things were then, this year's potential customers will notice some major changes.

1) Lots more smaller vehicles. Five years ago, the auto industry was still dominated by light trucks, such as pickups, SUVs and minivans, even though there was plenty of talk about the need for more fuel efficient vehicles.

Now, they've arrived. Think of it: five years ago, there were barely cars at Chrysler, where three-quarters of its sales were light trucks. Now, it's touting the Fiat 500 from its Italian owner. General Motors is beaming with pride over the Chevrolet Cruze and Sonic. And Ford is adding cars like the Fiesta inspired by what it's sold for years in Europe and elsewhere.

"Compact cars were vehicles you bought if you couldn't afford anything else," said Jesse Toprak, vice president of industry trends for TrueCar.com. "Compact cars today are much better cars."

There are also plenty of smaller sport utilities, too, from Detroit and foreign auto companies. Ivan Drury, a senior analyst at Edmunds, points out the arrival of the four-door Mini Countryman -- kind of a station wagon, but one with a lot of prestige.

That isn't to say pickups and SUVs have disappeared, or that small car sales have spiked. The trend has been more gradual. Toprak says smaller vehicles' rising popularity is tied to gasoline prices as well as a shift from suburb to city, where urban residents have to search for parking or make do with a single space.

2) Financing is tougher. Before the financial crash and the housing bubble burst, dealers seemed willing to sell cars to just about anyone with a job or some kind of income. All that changed in 2008, when everything tightened up and even some of the car companies' best customers found themselves rejected for car loans and lease deals.

Things have eased up, but the climate still can be difficult for anyone who ran into mortgage or credit problems. "Clearly, getting a car loan is harder," says Toprak.

The new reality may surprise people whose last loan application sailed through, and the tough credit conditions late last decade have created the impression that car companies are shying away from making loans.

But dealers and car companies make money financing, and they've learned they have to loosen the spigot. "People shouldn’t be afraid and think, the dealer is going to reject me. The dealer wants you to finance, so they’ll make some money," Drury says.

He suggest consumers investigate whether any company-financed programs are available on the vehicle they want, and cross shop rates from dealers, banks and credit unions.

Captive finance companies often classify customers according to their credit scores, fitting them into categories called "tiers." Many customers don't know that they can bargain for a better credit level, but it can make a difference in interest rates and fees.

3) Japan got tarnished. In 2007, Toyota and Honda sat atop the auto industry in reputation and quality. Their buyers generally considered would not shop with anyone else and the two brands captured millions of customers from Detroit. Their stumbles may be one of the biggest changes in 2012, says Toprak at TrueCar.com.

Image by Getty Images via @daylife

"They got hit in areas where nobody thought they'd get hit" namely, quality and reliability, Toprak said. After millions of recalls at Toyota, and the impact of the Japanese earthquake and tsunami and floods in Thailand on both companies, Toyota and Honda are realizing they may have lost American market share for good.

That has left the companies vulnerable -- and eager for business -- in a way that couldn't have imagined in 2007. No longer do buyers have to expect to pay sticker, as they did when gas prices soared and Japanese cars were in demand. Says Drury: "Consumers will be able to get deals on cars that five years ago, you would have never seen deals on."

4) Korean competitors got serious. Detroit has seen some benefits as Japan's two stars have fallen, but another pair of companies are also gaining: Korea's Hyundai and Kia. Five years ago, the Korean automakers were mainly seen as brands for bargain shoppers, offering long warranties in the hope that they could convince buyers that they were reliable.

Since then, they've added new vehicles, with both luxury features and eye-catching styling. "They have transformed themselves from the joke of the industry to the cool kids that everyone is talking about. They’re not done yet," Toprak says.

Shoppers who might never have been interested in a Korean car are considering makes such as Hyundai's upscale Genesis and even more expensive Equus (a $60,000 Hyundai? You bet.)

Likewise, who hasn't seen Kia's giant hamsters bopping to LMFAO's "Party Rock Anthem," especially the one that ran during the Video Music Awards?